Snap Inc (NYSE:SNAP), Facebook, Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR) have decided to bid tens of millions of dollars to Twenty-First Century Fox Inc (NASDAQ:FOXA). This is to obtain rights to highlight the World Cup, a widely renowned international soccer tournament.
According to top reports, the soccer tournament is set to take place in Russia next year with a promise of a thrilling football experience considering that the participating teams this time around are football’s sworn enemies. Fox according to Siliconbeat had some time back set aside about $400 million in a move to obtain full rights to broadcast the World Cup.
There have been questions among some of the concerned parties. They have been wondering whether or not Fox will move ahead to sell off the rights to one of the above companies or to all of them. Some anonymous sources familiar with the matter have stepped forward citing that the top entertainment provider still remains undecided in regards to its next move.
It goes without saying that the competition to live-stream sports has become quite heated recently. The various tech firms are in competition to woo viewers to move and stick to their sites. The passage of time is being characterized with numerous dynamics and some more tech companies are continuing to express great interest in obtaining these broadcasting rights.
Facebook recently succeeded to strike a deal with Major League Baseball which gave it full rights to live stream 20 games.
Twitter has also lately indicated its interest in the live streaming of the sports events. The social media giant believes it will perform even better than Facebook despite the rival’s larger number of users. It thinks the live conversation already happening on the site will give it an added advantage over Facebook but we will just have to wait and see.
Twenty-First Century Fox closed its day at $27.95 losing 1.45% in Thursday’s trading session.